Many companies are held by other companies. The beneficial owner is the human being at the end of this chain: whoever, alone or together with third parties, holds at least 25 percent of the capital or voting rights or controls the company in another way. If no one can be identified in this way, the most senior member of the executive management is generally deemed to be the beneficial owner.
Since 1 October 2026, companies limited by shares (AG), limited liability companies (GmbH), cooperatives and other legal entities must enter their beneficial owners in the federal transparency register and report any changes. Existing companies have three to six months, depending on their legal form and audit regime. If a change in the commercial register occurs before then, the report is due within one month.